Ground broken for new Bronx retail plaza

Real Estate Weekly, Dec 20, 1995

Developed by Forest City Ratner Companies, The Bruckner Stores is a $15 million project that will house major retailers such as Pergament Home Centers and the very first Bronx location of the popular new clothing store Old Navy, a subsidiary of The Gap.

The Bruckner Stores is located on White Plains Road, two blocks south of the Bruckner Expressway. Bounded on the north by Story Avenue, on the west by Bolton Avenue, on the south by Lafayette Avenue, and on the east by White Plains Road. The new plaza will contain 113,000 square feet of retail space, including several major, national retailers. Tenants committed to joining the Blockbuster Video already on the site are Pergament Home Centers, Seaman's Furniture, Young World and Old Navy.

"It has taken some time, but the Bronx is steadily establishing a track record as one of the City's most business-friendly boroughs," said Ferrer. "Old Navy, Pergament, Blockbuster Video, Seaman's and Young World are all top-notch stores - the type of businesses which just a decade ago would have located in Westchester - and now they want to be in the Bronx."

"We are extremely proud to be a part of the remarkable economic rebirth taking place in the Bronx," said Ratner. "The decision by companies such as Pergament and Old Navy to commit themselves to the success of The Bruckner Stores demonstrates beyond a shadow of a doubt that the Bronx is back and open for great business."

The inclusion of nationally-known stores, coupled with the convenience of a brand new shopping plaza with roof-top parking for more than 300 cars, will allow The Bruckner Stores to attract Bronx shoppers and tax revenue currently being lost to Westchester shopping centers. Its proximity to the Bruckner Expressway and easy accessibility by public transportation makes The Bruckner Stores an attractive shopping destination for residents of dozens of Bronx Hunts Point to Pelham Parkway and Throgs Neck.

The project will be completed by Fall 1996, with roughly 200 new construction jobs generated over the next nine months of construction. The Bruckner Stores is also expected to generate approximately 200 permanent jobs in the Bronx. A voluntary Affirmative Action program will be established at the outset of construction to provide assistance in overcoming traditional barriers to minority businesses' participation in construction projects.

"This project is significant in many ways," Ratner said. "It is important to the City because it allows the Bronx to re-capture the thousands of shoppers, and the millions of tax revenue dollars that accompany them, that are lost every day to shopping plazas in Westchester. This project is vital to the Borough of the Bronx because it will generate nearly 200 construction jobs and roughly the same number of new, permanent retail jobs when the plaza opens next Fall. And today's ground-breaking for The Bruckner Stores is a sign to this community that substantial private-sector investment in the east Bronx is becoming a reality."

The developer of The Bruckner Stores is Forest City Bruckner Associates, L.P., an affiliate of Forest City Ratner Companies. The architect of the Bruckner Shops is MCG Architects. The construction manager is York Hunter of New York, and the property manager is First New York Management, an affiliate of Forest City Rather Companies.